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Bernstein Sees IREN Pivoting From Bitcoin Mining to $3.7B AI Cloud Business

2026-04-28 16:51:42

Abstract generation in progress

Bernstein said IREN’s AI cloud division could reach a $3.7 billion annual revenue run rate as the company shifts away from Bitcoin mining. The analysts said a five-year Microsoft capacity agreement and customer prepayments support the infrastructure buildout.

BTC0.54%

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